U.S. Federal Reserve Cuts Rates by Half a Percentage Point
The action was taken to cushion the effects of COVID-19
U.S. stocks have risen sharply after the Federal Reserve cut interest rates by 50 basis points. The S&P 500 was recently more than 1 percent higher on the day.
U.S. markets open lower
A rebound in global stock markets stuttered into the Wall Street open after G7 policymakers stopped short of announcing an immediate policy response to the economic impact of the coronavirus outbreak.
Following a conference call on Tuesday, the group of nations issued a statement in which they pledged action to be taken individually by each country, without detailing specific measures.
Please select this link to read the complete article from The Financial Times.